Elite Pharmaceuticals Inc (ELTP)

[packerfanbud]

Well, this is directly related to the Epic Alliance.

http://sec.gov/Archives/edgar/data/1053369/000093041309001530/c56987_8k.htm

In addition, within ten business days following the last day of each calendar quarter, beginning with the first calendar quarter following the Initial Closing Date and continuing for each of the eleven calendar quarters thereafter, the Purchaser will pay to the Registrant a sum of US$62,500, for an aggregate purchase price over such period of US$750,000, in exchange for an additional 62.5 shares of Series E Preferred Stock per quarter and 750 shares of Series E Preferred Stock, in the aggregate, over such period, which such shares will be convertible into 1,250,000 shares of Common Stock per quarter and 15,000,000 shares of Common Stock, in the aggregate, over such period, subject to adjustment

I'm not entirely sure why they are purchasing 187 shares as it seems that they should be buying 62.5 shares per quarter. Although, it doesn't seem like they have consistently bought the required shares each quarter.